Nothing to see here: OpenSea denies CEO involvement in $60M rug pull :N Cryptocurrency scrgruppen

Welcome to the latest edition of Cointelegraph’s Elegant Newsletter. Keep reading to stay up to date with the latest stories about non-fungible tokens. Every Wednesday, the Nifty Newsletter informs and inspires you to delve deeper into the latest NFT trends and insights.

In this week’s newsletter, read how a Dubai art gallery plans to educate artists about non-fungible tokens (NFT) and Web3, and why NFT marketplace OpenSea said it’s not aware of any involvement of a former CEO in a $60 million divestment. Find out what happened with the astronomy-themed NFT series Lucky Star, and in other news, find out what a government-owned Chinese newspaper is planning to do with its NFT platform.

First Look: An art gallery in Dubai to educate artists about NFTs, Web3

The upcoming art fair 37xDubai, which plans to open for the first time in October, aims to educate artists and collectors about NFTs and the broader Web3 ecosystem through its physical presence.

Gallery founder Danilo Carlucci said he plans to hold educational workshops in the gallery space after its launch. Additionally, the gallery intends to use NFTs based on its “Tree of Life” art installation for its membership token.

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OpenSea is “unaware” of any involvement of a former executive in a $60 million rug sweep

NFT platform OpenSea says it is not aware of evidence that could implicate its former head of projects, Kevin Pawlak, in the infamous AnubisDAO rug sweep in 2021 after new accusations surfaced on social media.

An anonymous X account (formerly Twitter) called NFT Ethics tagged the platform, asking it to speak out about the accusations. They claimed that Pawlak was associated with the alias identity “0xSisyphus” and was involved in “various suspicious business transactions.”

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NFT Lucky Star Coin Astrology Project Over $1 Million – CertiK

An NFT project titled NFT Lucky Starcurrency (LSC) has been caught in the middle of an attempted exit scam of more than $1 million, according to a report from blockchain security firm CertiK.

The project’s distributor account used the “withdrawToken” function in both NFTMerge and AdwardCenter contracts. This resulted in over $1 million worth of LSC tokens being removed from the account, after which they were exchanged for the Binance USD (BUSD) stablecoin and sent to another account.

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Chinese government-owned newspaper launches NFT platform

China Daily, an English-language newspaper owned by the Chinese Communist Party’s propaganda department, has plans to create its own metaverse and NFT platform.

The publication awards CNY2,813 million ($390,000) to an outside contractor to design an NFT platform, which can be Chinese or foreign. It also said that digital collectibles sold on the platform could be delivered to others, such as OpenSea and LooksRare.

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Thank you for reading this summary of the week’s most notable developments in the NFT space. Come back next Wednesday for more reports and insights into this actively evolving space.